Saifu at #Money2020 – the Future of Banking

When technology meets money, money meets people, people meet ideas and ideas become reality

Happy to announce that Saifu team participated in Money20/20 — a space where the smartest, most outrageously inventive and ambitious people could connect and create. It is the world’s largest event enabling payments and financial services innovation and unique place where partnerships between incumbents banks, building societies, financial services firms, and fintechs start.

Saifu Money2020 team

Our team is thinking differently and innovating faster than ever before. The Money20/20 Payments Race sees four payments teams (Cash, Card, Crypto, Wearables) race around the world and Saifu is exactly an example of future banking — a unique easy, secure and compliant platform that offers fiat and crypto services in one moment. Throughout the conference, Saifu executives participated in moderated panel discussions within tracks covering innovation, safety and security and financial inclusion. We are glad to demonstrate a new way for the crypto industry to approach money movement services — a safe and regulated bridge between crypto and fiat currencies — and creating a better customer experience.

An important step for us was entering into a partnership agreement with Tangem cryptocurrency hardware wallet manufacturer to help customers use crypto payments as easy as fiat. Tangem, as part of the agreement, will get full transactional banking functionality with competitive exchange rates in the long run. Our team have also announced the beginning of development of white-label solution powered by Saifu – for more details follow our updates.

Three days of networking-rich opportunities bring together the most brilliant minds to deliver the next frontier of financial services —70 hours of content, over 350 speakers, 7 epic stages and 12 industry-advancing themes. The banking industry needs to look at crypto services from a fresh and simple perspective. On top of all, the Money20/20 was all about innovation. There have been many announcements related to new solutions, products and partnerships, and presentations on the evolution of platforms and technology. This year Money 20/20 focused on challenges such as — how can incumbent banks innovate to keep up with neobanks? Should they rip and replace their legacy technology? Should they collaborate and create their own digital offshoot and gradually move their customers over?

We emphasize the amazing debate between HSBC and Ripple challenged the panelists to think about the differences and similarities in how innovation takes place at their organizations. It concluded: “The innovation culture in banks has to change so deeply, that no-one even questions about shortening committee processes to support super-rapid experiments”. Transformative new ideas and emerging technologies that will inspire your next innovation.

HSBC representative discussed the unique set of challenges faced by banks. He explained that there is a balance between fostering innovation and managing the processes that ensures compliance with ever-changing regulation or information security, to ensure proper integration with these systems for new products or services.

It’s amazing to look back and see how communication has gotten easier over the years and watching how this new wave of blockchain technology in the payments industry will be the foundation on which the Internet of Value is created.